Al_Dente wrote:And yes, the bears took control of the AD (on weak-ish volume)
NY declining stocks = 2.4 x advancing stocks
NY declining volume = 1.2 x advancing volume
Nasdaq declining stocks = 2.5 x advancing stocks
Nasdaq declining volume = 1.6 x advancing volume
NY declining stocks = 3 x advancing stocks
NY declining volume = 1.5 x advancing volume
Nasdaq declining stocks = 2.5 x advancing stocks
Nasdaq declining volume = 2.2 x advancing volume
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.
now maybe it's safe to say this bear shall have legs.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
fehro wrote:be so careful.. NDX "could" waterfall today.. QQQs under $138 ish with conviction.. look for $6.75 dollar drop.. fast ish
'IF" QQQ breaks 138, 137.80 with conviction aka sharp drop under.. with volume target open gap 133.80-132.60 then 132.43.. horiz support.. H&S target iffy.. 131.40
SPX 2405 May highs.. support zone 50d support here 2408.80
fehro wrote:be very careful today.. potential crash move.. NDX on such key level and a huge cliff.. Put/Call at extreme, TRINs has been active weird last 2 days… could see a very sharp crash move down.. be ready.. fwiw.
Three months ago, GS said that the Fed appeared to have lost control of the market.
Two months ago GS doubled down, and asked - again - if Yellen has lost control of the market, and warned that only a "policy shock" may be left to normalize the market's "reaction function"to what the Fed was saying... and doing. Now, moments ago, St. Louis Fed President James Bullard effectively confirmed that Goldman was right:
FED'S BULLARD SAYS FINANCIAL MARKET REACTION TO MARCH TIGHTENING HAS NOT BEEN GOOD, WOULD HAVE EXPECTED YIELDS TO RISE WITH POLICY RATE
FED'S BULLARD SAYS NEED TO CREATE POLICY SPACE IN GOOD TIMES IN CASE NEED MORE QE IN FUTURE
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.